Greece Insurance Report

$1,450.00

The Covid-19 virus is likely to have little impact on the trajectory of premiums in Greece’s insurance sector. This quarter, we are leaving our projections for the life segment virtually unchanged. Good understanding of life insurance on the part of households who can afford it, along with the development of attractive new products by the insurers themselves, should underpin steady growth in life premiums of around 4% annually for much of the forecast period. In the non-life segment, we have revised our projections for health insurance up sharply, in order to take into account the strong growth in premiums over the last year or so. Prevalent discounting in the important motor insurance sub-sector has caused us to revised down our forecasts of projections for 2020 and 2021 slightly. However, we have increased our forecasts in this sub-sector from 2023. Overall, non-life premiums should rise by about 3.6% annually through the forecast period: previously we had been looking for an expansion each year of about 2.3%.

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The Greece Insurance Report has been researched at source and features Fitch Solutions' independent assessment and forecasts for the insurance sector. It examines industry developments, key growth drivers and risk management projections, including the macroeconomic situation, government policy, regulatory environment and the level of development and potential for growth, broken down by line. Leading insurers are profiled, covering premiums, products and services and competitive positioning.